Financial Results : Lana Medical 2022 profit down 17% to SAR 5.5 mln

Lana Medical 2022 profit down 17% to SAR 5.5 mln

03/10/2023 Argaam Exclusive

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Lana Medical Co., which is set to be listed on Nomu-Parallel Market, posted a net profit of SAR 5.5 million for 2022, a decline of 17% compared to SAR 6.6 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 31.97 40.80 27.6 %
Gross Income 16.87 18.87 11.9 %
Operating Income 7.32 6.56 (10.3 %)
Net Income 6.59 5.49 (16.7 %)
Average Shares 3.00 3.00 -
EPS (Riyals) 2.20 1.83 (16.7 %)


The profit decline was attributed to a fall in operating profit margin from 23% to 16% on higher administrative and marketing expenses. This was in addition to lower other income and higher financing charges.

 

However, revenues increased by 28% to SAR 40.8 million in 2022, compared to SAR 32 million in 2021. Zakat expenses also declined year-on-year (YoY).

 

Shareholders' equity, no minority interest, totaled SAR 48.42 million by the end of 2022, compared to SAR 41.57 million a year before.

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